Independent TD Mattie McGrath has welcomed the decision of the Ceann Comhairle’s office to allow the introduction of private members bill aimed at establishing an off-balance sheet National Housing Co-Operative. The Affordable Housing and Fair Mortgage Bill 2018 will be introduced at First Stage in the Dáil today by Fianna Fail’s John McGuinness. It has the backing of Fr Peter McVerry, and The Right2Homes organisation. Commenting on the Bill Deputy McGrath made the following comment:
“The time for piecemeal and clearly ineffective ‘solutions’ to the mortgage crisis is over.
The original form of the Bill was sponsored by myself, Deputy McGuinness and Senator David Norris. Now however, the Bill has been significantly revamped in line with the Standing Orders of the Dáil.
We need a radical approach that will generate significant and sustainable progress in the fastest possible time.
This Bill seeks to allow for the broadening of the mortgage-to-rent rescue model to be available to voluntary, mutual and not-for-profit housing providers.
We know through our analysis and preparation for this Bill, that there are many ethical investors who are truly motivated by a desire to see a resolution to this national emergency.
What has been provided for in this Bill is a structured, legally sound, and ambitious pathway that has the potential to fundamentally reform our approach to mortgage distress and mortgage arrears.
Tens of thousands of families are in stark and urgent need of this kind of ambitious approach, an approach that we are hoping will receive full cross-party and government support,” concluded Deputy McGrath.
